Khazanah Nasional Berhad Portfolio holdings
Khazanah Nasional is Malaysia's sovereign wealth fund, set up as a company in 1993 and owned almost entirely by the Minister of Finance Incorporated. It began operations in 1994 as a custodian of the government's business holdings while investing in strategic and high-technology sectors, and in 2004 it took a more active approach to investing. The fund was modelled on Singapore's Temasek Holdings, and like Temasek it has its own board and a professional management team. In 2024 Khazanah completed its purchase of two state-owned venture capital funds, Malaysia Capital Venture Management and Penjana Kapital. Since a 2018 refresh of its purpose, Khazanah has aimed to grow Malaysia's long-term wealth while also contributing to the country's economic development.
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
Franklin FTSE India ETF
FLIN
|
+$6.78M |
| 2 |
Pinduoduo
PDD
|
+$1.14M |
| 3 |
Union Pacific
UNP
|
+$405K |
| 4 |
Walt Disney
DIS
|
+$344K |
| 5 |
Marvell Technology
MRVL
|
+$341K |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
KraneShares CSI China Internet ETF
KWEB
|
+$7.68M |
| 2 |
Vanguard S&P 500 ETF
VOO
|
+$1.94M |
| 3 |
Alphabet (Google) Class C
GOOG
|
+$576K |
| 4 |
Alphabet (Google) Class A
GOOGL
|
+$545K |
| 5 |
NVIDIA
NVDA
|
+$419K |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Miscellaneous | 93.32% |
| 2 | Technology | 2.75% |
| 3 | Consumer Discretionary | 0.84% |
| 4 | Communication Services | 0.81% |
| 5 | Financials | 0.71% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | Held Since | |
|---|---|---|---|---|---|---|---|
26
Berkshire Hathaway Class B
BRK.B
$1.26T
| $1.49M | 0.09% |
2,971
+118
| +4% | +$56.7K |
2025 Q4
2 quarters
|
|
27
Lam Research
LRCX
$283B
| $1.37M | 0.08% |
3,162
-448
| -12% | -$136K |
2025 Q4
2 quarters
|
|
28
Intel
INTC
$317B
| $1.29M | 0.07% |
9,211
+1,621
| +21% | +$164K |
2026 Q1
1 quarter
|
|
29
Visa
V
$794B
| $1.21M | 0.07% |
3,524
+25
| +0.7% | +$8.03K |
2025 Q4
2 quarters
|
|
30
Applied Materials
AMAT
$294B
| $1.2M | 0.07% |
1,664
-17
| -1% | -$7.84K |
2025 Q4
2 quarters
|
|
31
Johnson & Johnson
JNJ
$688B
| $1.2M | 0.07% |
4,711
-211
| -4% | -$49.2K |
2025 Q4
2 quarters
|
|
32
ExxonMobil
XOM
$696B
| $1.18M | 0.07% |
8,648
-193
| -2% | -$28.9K |
2025 Q4
2 quarters
|
|
33
Caterpillar
CAT
$275B
| $1.11M | 0.06% |
1,044
+17
| +2% | +$14.9K |
2025 Q4
2 quarters
|
|
34
Walmart Inc
WMT
$1.02T
| $1.07M | 0.06% |
9,464
+483
| +5% | +$60K |
2025 Q4
2 quarters
|
|
35
Costco
COST
$490B
| $988K | 0.06% |
1,056
+22
| +2% | +$21.9K |
2025 Q4
2 quarters
|
|
36
Rapid Micro Biosystems
RPID
$32.7M
| $981K | 0.06% |
566,905
| – | – |
2022 Q1
17 quarters
|
|
37
AbbVie
ABBV
$521B
| $951K | 0.05% |
3,780
+81
| +2% | +$17.4K |
2025 Q4
2 quarters
|
|
38
Cisco
CSCO
$377B
| $935K | 0.05% |
7,961
+1
| +0% | +$105 |
2025 Q4
2 quarters
|
|
39
Mastercard
MA
$576B
| $885K | 0.05% |
1,723
-43
| -2% | -$21.4K |
2025 Q4
2 quarters
|
|
40
Bank of America
BAC
$352B
| $866K | 0.05% |
15,207
+700
| +5% | +$37.2K |
2025 Q4
2 quarters
|
|
41
KLA
KLAC
$198B
| $858K | 0.05% |
2,843
-817
| -22% | -$162K |
2025 Q4
2 quarters
|
|
42
Coca-Cola
KO
$427B
| $820K | 0.05% |
10,084
+2,382
| +31% | +$188K |
2025 Q4
2 quarters
|
|
43
Comfort Systems
FIX
$38.9B
| $811K | 0.05% |
409
+102
| +33% | +$185K |
2026 Q1
1 quarter
|
|
44
UnitedHealth
UNH
$365B
| $758K | 0.04% |
1,823
-186
| -9% | -$68.9K |
2025 Q4
2 quarters
|
|
45
Home Depot
HD
$348B
| $722K | 0.04% |
2,048
+151
| +8% | +$49.1K |
2025 Q4
2 quarters
|
|
46
Merck
MRK
$364B
| $721K | 0.04% |
5,614
+230
| +4% | +$26.9K |
2025 Q4
2 quarters
|
|
47
Netflix
NFLX
$255B
| $692K | 0.04% |
9,686
+1,685
| +21% | +$148K |
2025 Q4
2 quarters
|
|
48
Procter & Gamble
PG
$394B
| $643K | 0.04% |
4,387
-603
| -12% | -$87.8K |
2025 Q4
2 quarters
|
|
49
Goldman Sachs
GS
$264B
| $630K | 0.04% |
623
+1
| +0.2% | +$975 |
2025 Q4
2 quarters
|
|
50
Seagate
STX
$121B
| $624K | 0.04% |
647
-186
| -22% | -$142K |
2026 Q1
1 quarter
|
|
Similar funds
Khazanah Nasional Berhad's Q2 2026 Portfolio in Review
As of Q2 2026, Khazanah Nasional Berhad held 165 positions worth $1.74B, up 13% from $1.54B the previous quarter. Its ten largest holdings account for 94% of the portfolio.
Khazanah Nasional Berhad's Q2 2026 filing shows 23 new, 56 increased, 57 reduced and 16 closed positions. Its largest new stake was Union Pacific: 1,541 shares worth $419K. The largest sale was KraneShares CSI China Internet ETF, an estimated $7.68M.
By sector, the portfolio is most concentrated in Miscellaneous at 93% of assets, down from 94% a quarter earlier, followed by Technology and Consumer Discretionary.
- Khazanah Nasional Berhad's largest Q2 2026 buy was Union Pacific: 1,541 shares worth $419K.
- Khazanah Nasional Berhad added most to Franklin FTSE India ETF in Q2 2026, an estimated $6.78M increase.
- Khazanah Nasional Berhad's biggest Q2 2026 reduction was Vanguard S&P 500 ETF, cutting an estimated $1.94M.
- Khazanah Nasional Berhad fully exited KraneShares CSI China Internet ETF in Q2 2026, selling an estimated $7.68M.
- Khazanah Nasional Berhad's ten largest holdings make up 94% of its $1.74B portfolio in Q2 2026.
- Khazanah Nasional Berhad opened 23 new positions and closed 16 in Q2 2026.
- Khazanah Nasional Berhad's portfolio value rose 13% quarter-over-quarter to $1.74B.
Based on Khazanah Nasional Berhad's 13F filing for Q2 2026, filed 20 Oct 2026.